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Gold/Mining/Energy : Precious and Base Metal Investing
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To: russwinter who wrote (11306)5/22/2003 1:09:34 AM
From: Elizabeth Andrews  Read Replies (1) of 39344
 
All countries, like Japan, are buying US treasuries with their currency to avoid the appreciation of their currency. It's a competitive move. As the Fed lowers the dollar the position of its trading partners gets worse as the dollar ratio changes. For example, Japan is buying buys US treasuries, which inflates its currency so that its exports don't get priced out of the US market. And on it goes. Gold will move here because all currencies have to inflate, except maybe China. Locals know this and they are buying gold with their currency wherever possible. The world investment demand for gold by people who want to preserve their purchasing power, is on a historic curve upwards, I think.
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